Banco Bradesco (NYSE:BBD) Sets New 12-Month High – What’s Next?

Banco Bradesco SA (NYSE:BBD) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $3.86 and last traded at $3.8550, with a volume of 11595281 shares changing hands. The stock had previously closed at $3.73.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Banco Bradesco in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Banco Bradesco presently has a consensus rating of “Moderate Buy” and an average target price of $2.00.

Banco Bradesco Trading Up 3.1%

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.64. The business’s fifty day moving average is $3.47 and its 200-day moving average is $3.25. The stock has a market capitalization of $37.99 billion, a PE ratio of 10.99, a P/E/G ratio of 0.34 and a beta of 0.54.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Thursday, October 30th. The bank reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $34.75 billion. Banco Bradesco had a net margin of 9.61% and a return on equity of 12.95%. As a group, analysts anticipate that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 9th. Shareholders of record on Wednesday, February 4th will be paid a dividend of $0.0035 per share. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, February 4th. Banco Bradesco’s payout ratio is currently 8.57%.

Institutional Trading of Banco Bradesco

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fisher Asset Management LLC lifted its position in Banco Bradesco by 0.3% during the third quarter. Fisher Asset Management LLC now owns 88,405,292 shares of the bank’s stock valued at $298,810,000 after buying an additional 306,617 shares in the last quarter. Orbis Allan Gray Ltd purchased a new stake in Banco Bradesco during the 2nd quarter worth $250,398,000. Wellington Management Group LLP increased its holdings in Banco Bradesco by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 76,735,708 shares of the bank’s stock valued at $259,367,000 after purchasing an additional 5,374,146 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Banco Bradesco by 4.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 65,254,835 shares of the bank’s stock worth $220,561,000 after purchasing an additional 2,786,757 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Banco Bradesco by 1.9% in the second quarter. Franklin Resources Inc. now owns 48,199,044 shares of the bank’s stock worth $148,935,000 after buying an additional 907,612 shares during the period.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.